Wednesday, July 21, 2010

Onn Mahmud's Wealth

Note : Onn Mahmud is the brother of Taib Mahmud, the Chief Minister of Sarawak. The question being raised is the origin, accumulation and concentration of wealth into one family's hands. Further questions raised are the propriety and methodology of this wealth creation. How did it happen? As the Chief Minister and Land & Resource Minister, wealth can be transferred in various ways into one's own coffers.


As can be seen in this chart, Onn Mahmud holds large stakes in the Achi Jaya Group of Companies.

Just looking at Achi Jaya Holdings and Achi Jaya Plantations accounts as at 31.12.08 you can see the phenomeonal amount of wealth being generated.

Achi Jaya Plantations

Achi Jaya Plantations had assets of (Non-Current Assets (631m) + Current Assets (29m) ) 661m. It's Net Assets (Assets - Liabilities) was 289m.

The Revenue was 194m and the Profit was 55.6m. The Net Profit Margin was 28.68% (Out of the revenue of 194m, 28.68% was profit after cost, pretty good, these kind of margin in the business world is salivating).

Share Capital :- Onn Mahmud personally invested RM 9.5m. Achi Jaya Holdings invested another 15.4m

Achi Jaya Holdings

Achi Jaya Holdings had assets of (Non-Current Assets (745m) + Current Assets (83.8m) ) 829m. It's Net Assets (Assets - Liabilities) was 386.8m.

The Revenue was 277.6m and the Profit was 37.6m. The Net Profit Margin was 13.53% .

Share Capital :- Onn Mahmud personally invested RM21m  as effectively the 100% shareholder. Note on a 21m investment, the net assets were 386.8m. 18 times the initial investment. That is amazing wealth creation. the profit itself (for 2008 only!) was 37.6m, 1.8 times the initial investment and this is only for one year.


Onn Mahmud Share Capital

Achi Jaya Holdings - 21m
Achi Jaya Properties - 6m
Achi Jaya Plantations - 9.5m

So Onn Mahmud has invested in his name 36.5m (that's 36,500,000)  into these companies. Where is this money from?

Net Worth

Based on Onn Mahmud's 100% holding in Achi Jaya Holdings, 15.19%  holding in Achi Jaya Properties and 5.43% of Achi Jaya Plantations and the Net Assets of these companies, Onn Mahmud (Just based on his interest in these companies only) is worth (386.8m + (15.19% of 35.3m) + (5.43% of 289m) ) approximately  a staggering 407.85m RM (407,850,000).

Herolite Investment Ltd and Grand Shine Trading Ltd

I can't find the ownership details on these companies. If someone more well versed in getting info from the Hong Kong company registrar can guide me I would be grateful.

These companies have collectively invested RM24.6m in Achi Jaya Properties and RM150m in Achi Jaya Plantations. Who are they? And why are they investing in parallel to Onn Mahmud as seen in the share capital section above?

Update : I have traced the ownership of Herolite and Grand Shine Trading through various HK$20.00 companies. The Ultimate parent is one Francisco C Sebastian and Integrated Financial Holdings in the British Virgin Islands. The British Virgin Islands offshore companies do not reveal ownership details to the public.

These are companies capitalised at HK$10,000 (Herolite and Grand Shine Trading are capitalised at HK$10,000) yet investing RM175m in Achi Jaya Plantations and Achi Jaya Properties.

72 comments:

Anonymous said...

The plantation is in Johor and is reported to have a market value in excess of RM2.0 billion and is in the town fringe which will inflate the value further.
The core properties is a hotel in KL

To be fair to Onn he was dammed lucky in investing in the plantataion and the hotel as both investments were made during the aftermath of the 1990's recession.

Anonymous said...

[color=#445566]Interesting post! thank you for sharing this information. taibandfamilyspublicwealth.blogspot.com really got under my
[/color] [url=http://nuscin-online.info]skin,[/url] [color=#445566]bookmarked... Keep up the good site...[/color]

Anonymous said...

No one bothered to find out about loans being taken out to invest in those businesses. ever heard of loans before and using them to do business? They still have to be paid off to the banks

Anonymous said...

must look at this Jhyeuqms [URL=http://www.chanel--online-shop.net/]chanel online store[/URL] for more detail fDyDeRAF [URL=http://www.chanel--online-shop.net/ ] http://www.chanel--online-shop.net/ [/URL]

Anonymous said...

purchase JzHLvtLR [URL=http://www.burberry-outlet2013.com/]burberry jacket[/URL] with low price lcNYVmWv [URL=http://www.burberry-outlet2013.com/ ] http://www.burberry-outlet2013.com/ [/URL]

Anonymous said...

sell PMkToNRm [URL=http://www.louis--vuitton--online--shop.org/]louis vuitton handbags online[/URL] for more rspqPbKy [URL=http://www.louis--vuitton--online--shop.org/ ] http://www.louis--vuitton--online--shop.org/ [/URL]

Anonymous said...

to buy BsEdoKTd [URL=http://www.ugg-boots-uk2013.com/]mens ugg boots uk[/URL] to take huge discount kxmnhlAD [URL=http://www.ugg-boots-uk2013.com/ ] http://www.ugg-boots-uk2013.com/ [/URL]

Anonymous said...

buy mFTIxzOE [URL=http://www.ugg-boots-uk2013.com/]ugg australia uk[/URL] online UHOsBfUy [URL=http://www.ugg-boots-uk2013.com/ ] http://www.ugg-boots-uk2013.com/ [/URL]

Anonymous said...

[url=http://inchinaledlightmanufacturer.com ]led manufacturers [/url]time, to the warmth and zeal of the devotion of the limitary friars. http://inchinaledlightmanufacturer.com smd led manufacturer led light manufacturer restore you to those eyes acts level with the lowly birth of the

Anonymous said...

If you smile when one is around,you really mean it.
http://www.coachfactoryoutletsea.com/
http://www.buybeatsbydrdrexa.com/
http://www.cheapuggbootsan.com/
http://www.cheapfashionshoesam.com/
http://www.burberryoutletusaxs.com/
http://www.burberryoutletxi.com/
http://www.nflnikejerseysshopxs.com/
http://www.michaelkorsoutletez.com/

Anonymous said...

past centuries.-- Descartes
http://www.cheapfashionshoesas.com/
http://www.nflnikejerseysshopxs.com/
http://www.burberryoutletusaxs.com/
http://www.coachfactoryoutletsez.com/
http://www.casquemonsterbeatser.com/
http://www.buybeatsbydrdrexa.com/
http://www.michaelkorsoutletez.com/

Anonymous said...

Good is good, but better carries it.
http://www.cheapfashionshoesas.com/
http://www.burberryoutletusaxs.com/
http://www.buybeatsbydrdrexa.com/
http://www.casquemonsterbeatser.com/
http://www.nflnikejerseysshopxs.com/
http://www.coachfactoryoutletsez.com/
http://www.michaelkorsoutletez.com/

Anonymous said...

Hello. And Bye. Thank you very much.

Anonymous said...

Wow! I'm truly enjoying the design and style of your site. Are you using a custom theme or is this freely available to all individuals? If you really don't want to say the name of it out in the public, please be sure to e-mail me.
I'd absolutely love to get my hands on this template! Appreciate it.

Feel free to visit my website - Asset Protection Trust

Anonymous said...

buy a qKJnBxyE [URL=http://www.aaareplicahandbags.weebly.com/]imitation louis vuitton[/URL] with confident kyVkQZDP [URL=http://www.aaareplicahandbags.weebly.com/ ] http://www.aaareplicahandbags.weebly.com/ [/URL]

Anonymous said...

It's really a nice and useful piece of information. I am glad that you just shared this useful information with us. Please stay us informed like this. Thank you for sharing.

Look into my blog post :: rolexコピー

Anonymous said...

I am actually thankful to the holder of this site who has shared this impressive post at at this place.


My web site; www.pradasale-shop.com

Anonymous said...

Hi there to every one, the contents present at this website are
genuinely awesome for people experience, well, keep up the good work fellows.



Feel free to visit my blog: blogspot.com

Anonymous said...

I've been surfing on-line more than 3 hours today, but I by no means discovered any fascinating article like yours. It's beautiful price
sufficient for me. In my opinion, if all web owners and bloggers
made just right content material as you did, the web will be
a lot more useful than ever before.

Here is my homepage - fred marvin associates

Anonymous said...

Hi there all, here every one is sharing such familiarity, thus
it's good to read this website, and I used to go to see this website daily.

Feel free to visit my homepage :: 激安プラダ バッグ

Anonymous said...

After I originally commented I appear to
have clicked the -Notify me when new comments are added- checkbox and now each time a comment is added I receive
4 emails with the same comment. There has to be a
means you can remove me from that service? Thanks!

my website; http://www.rolexoutletfreeshipping.com

Anonymous said...

Excellent post but I was wondering if you could write a litte more
on this topic? I'd be very grateful if you could elaborate a little bit more. Cheers!

Look at my web page; ロレックスレプリカ

Anonymous said...

Thiѕ design is incredible! You most certainly know hoω to keep
a reaԁer amused. Вetween your ωit
аnd your ѵidеos, I ωas almost movеd tο ѕtart mу own blog
(wеll, almоst...HаHа!
) Wondегful jοb. І reаlly еnjoуеԁ what you haԁ tο
say, and more than that, how you ρreѕentеd it.
Too cool!

Here іs mу рage - obesity related diseases

Anonymous said...

Excellent article. Keep writing such kind of information on your blog.
Im really impressed by your site.
Hi there, You have performed a fantastic job. I will definitely digg it and in my
view recommend to my friends. I am sure they will be benefited from this site.


Feel free to visit my website; miu miu 財布

Anonymous said...

Fantastic web site. A lot of useful info here. I'm sending it to a few pals ans additionally sharing in delicious. And obviously, thanks on your sweat!

Here is my blog post: モンスター ヘッドホン

Anonymous said...

Hey! I just wanted to ask if you ever have any problems with hackers?
My last blog (wordpress) was hacked and I ended up losing months of hard
work due to no backup. Do you have any methods to stop hackers?



my weblog プラダ

Anonymous said...

I'm truly enjoying the design and layout of your website. It's a very easy on the eyes which makes it much
more pleasant for me to come here and visit more often. Did you
hire out a developer to create your theme? Superb work!

Here is my blog post; レイバンメガネ

Anonymous said...

If you desire to get a good deal from this piece of writing then you have to apply
such methods to your won web site.

Look at my web site: オークリー

Anonymous said...

It's a pity you don't have a donate button! I'd definitely donate to this brilliant blog! I guess for now i'll settle for book-marking and adding your RSS feed to my Google account.

I look forward to new updates and will talk about this blog with my Facebook group.

Chat soon!

my web blog :: モンスタービーツ

Anonymous said...

Good site you've got here.. It's difficult to find excellent writing
like yours nowadays. I truly appreciate people like you! Take care!
!

Visit my web page vigrx

Anonymous said...

Hmm it seems like your website ate my first comment (it
was extremely long) so I guess I'll just sum it up what I wrote and say, I'm thoroughly enjoying your blog.
I as well am an aspiring blog writer but I'm still new to the whole thing. Do you have any helpful hints for rookie blog writers? I'd really appreciate it.


Check out my weblog :: ミュウミュウ店舗

Anonymous said...

I have read several just right stuff here.
Certainly worth bookmarking for revisiting. I surprise how so
much effort you put to create this kind of wonderful informative
web site.

Feel free to visit my web-site :: www.toryburchoutletshop2013.com

Anonymous said...

My spouse and I absolutely love your blog and find a lot of your post's to be exactly what I'm looking for.
Does one offer guest writers to write content for you personally?
I wouldn't mind writing a post or elaborating on many of the subjects you write concerning here. Again, awesome site!

Feel free to visit my website: miu miu 財布

Anonymous said...

Fastidious respond in return of this issue with genuine arguments and
explaining everything on the topic of that.


Here is my page :: ミュウミュウ店舗

Anonymous said...

Hey! I could have sworn I've been to this blog before but after checking through some of the post I realized it's
new to me. Anyhow, I'm definitely delighted I found it and I'll
be book-marking and checking back frequently!

Feel free to surf to my weblog - miu miu 新作

Anonymous said...

Hey I know this is off topic but I was wondering if you
knew of any widgets I could add to my blog that automatically tweet my newest twitter updates.
I've been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.

Also visit my blog; chloe バッグ

Anonymous said...

Definitely imagine that which you stated. Your favorite justification appeared to be at the web the simplest thing to
remember of. I say to you, I certainly get annoyed at the same time as folks think about concerns that they plainly do not understand about.

You managed to hit the nail upon the top and
outlined out the whole thing without having side effect , folks can take a signal.
Will probably be again to get more. Thanks

Here is my web blog トリーバーチ靴

Anonymous said...

Thanks in favor of sharing such a fastidious thought, paragraph
is good, thats why i have read it fully

my webpage - クロエ店舗

Anonymous said...

Everything is very open with a clear explanation
of the issues. It was really informative. Your website is very useful.
Thank you for sharing!

my website: ミュウミュウ新作

Anonymous said...

Oh my goodness! Incredible article dude! Many thanks, However I am encountering troubles with your RSS.
I don't understand the reason why I am unable to subscribe to it. Is there anyone else getting identical RSS issues? Anyone that knows the solution can you kindly respond? Thanks!!

my web blog - クロエ店舗

Anonymous said...

Hi! I just wanted to ask if you ever have any trouble with hackers?
My last blog (wordpress) was hacked and I ended up losing months of hard work due to no back up.
Do you have any methods to prevent hackers?


Here is my web-site: Women'S health

Anonymous said...

Way cool! Some very valid points! I appreciate you writing this write-up and the rest of the site is really good.


my blog; chloe 財布

Anonymous said...

You are so awesome! I do not suppose I have read anything like that before.
So wonderful to discover someone with genuine thoughts on this
topic. Seriously.. thanks for starting this up. This website is something that's needed on the internet, someone with some originality!

Have a look at my homepage; chloe バッグ

Anonymous said...

Wow, that's what I was looking for, what a data! present here at this website, thanks admin of this web site.

Feel free to surf to my web page: www.forum.strasbourg.eu

Anonymous said...

It is in reality a great and helpful piece of info. I'm happy that you simply shared this helpful information with us. Please stay us up to date like this. Thank you for sharing.

my page; airplane landing games

Anonymous said...

excuѕе mе juѕt thought i shоulԁ
make уou alert to that уour twitteг button іsn't working all of the sudden?

Also visit my website ... dresses

Anonymous said...

I am truly thаnκful to thе hοlder of thiѕ
wеb pаge who hаs shared thіs impreѕѕіvе post
at here.

Fеel fгee to visit my blog pоst ... Abrir Cuenta Facebook

Anonymous said...

hi!,I like your ωriting sο much! ѕhare we
be in contасt more aрproximately your post οn AOL?

I nеed a specialist in this spacе to solvе my problem.
May be that is you! Taking a look ahead to see yοu.


Here іs my hоmepage crear Facebook gratis

Anonymous said...

After looking into a few of the articles on your blog, I
really appreciate your technique of blogging.
I book-marked it to my bookmark webpage list and will be checking
back in the near future. Please visit my web site as well and
tell me what you think.

Here is my page ... ロレックスコピー

Anonymous said...

Its such as you read my thoughts! You appear to know so much approximately this, like
you wrote the ebook in it or something. I believe that you just could do with a few p.

c. to pressure the message home a little bit, however instead of that, this is fantastic blog.
A great read. I will certainly be back.

Here is my web-site - オークリー

Anonymous said...

I loved as much as you'll receive carried out right here. The sketch is tasteful, your authored material stylish. nonetheless, you command get bought an impatience over that you wish be delivering the following. unwell unquestionably come further formerly again as exactly the same nearly a lot often inside case you shield this hike.

my homepage: レイバン

Anonymous said...

I blog frequently and I seriously thank you for your information.
The article has really peaked my interest. I'm going to take a note of your website and keep checking for new information about once a week. I opted in for your RSS feed as well.

Take a look at my web page プラダバッグ

Anonymous said...

I don't write many responses, however i did a few searching and wound up here "Onn Mahmud's Wealth". And I do have some questions for you if it's allright. Could it be simply me or does it give the impression like some of these responses appear like they are left by brain dead people? :-P And, if you are posting at additional places, I'd like to keep up with everything fresh you have to post. Would you make a list of all of all your shared pages like your Facebook page, twitter feed, or linkedin profile?

Feel free to surf to my web site ... クリスチャンルブタン

Anonymous said...

Truly when someone doesn't understand then its up to other users that they will help, so here it takes place.

Also visit my blog ... http://www.brandenburg-billard.de/

Anonymous said...

I don't even know how I ended up here, but I thought this post was great. I do not know who you are but definitely you're going to a famous blogger if you are not already ;) Cheers!


my weblog - アバクロンビーフィッチジャケット

Anonymous said...

I enjoy what you guys are usually up too. This sort of clever work and exposure!

Keep up the amazing works guys I've incorporated you guys to my personal blogroll.

My site - Read More Here

Anonymous said...

Inspiring quest there. What occurred after? Good luck!

Also visit my web-site ... トリーバーチ通販

Anonymous said...

Hello there! This article couldn't be written any better! Looking through this post reminds me of my previous roommate! He constantly kept preaching about this. I am going to forward this article to him. Pretty sure he will have a very good read. Thank you for sharing!

Feel free to visit my webpage: chloe バッグ

Anonymous said...

Hello would you mind letting me know which hosting company you're working with? I've
loaded your blog in 3 completely different internet browsers and
I must say this blog loads a lot faster then most. Can you recommend a good web hosting provider at
a fair price? Kudos, I appreciate it!

Here is my webpage; クリスチャンルブタン

Anonymous said...

I leave a response whenever I like a article on a site or I have
something to valuable to contribute to the conversation.
It's triggered by the sincerness displayed in the post I read. And after this article "Onn Mahmud's Wealth". I was actually moved enough to post a comment ;) I actually do have a couple of questions for you if you usually do not mind. Could it be simply me or does it appear like some of these comments come across as if they are coming from brain dead folks? :-P And, if you are writing at other online social sites, I would like to keep up with you. Could you list all of all your community pages like your twitter feed, Facebook page or linkedin profile?

my homepage air jordan

Anonymous said...

If you want to grow your knowledge simply keep visiting this website and be updated with the newest gossip posted here.


my webpage - エアジョーダンスニーカー

Anonymous said...

Hello, i believe that i noticed you visited my web site thus i got here to go back the favor?
.I am attempting to find things to improve
my website!I guess its ok to use some of your ideas!
!

Take a look at my web page; クロエバッグ新作

Anonymous said...

Howdy I am so delighted I found your blog page, I really found you by error,
while I was looking on Askjeeve for something else, Nonetheless I am
here now and would just like to say thanks a lot for a incredible
post and a all round entertaining blog (I also love
the theme/design), I don’t have time to read it all at the moment but I have
saved it and also added in your RSS feeds, so when I have time I
will be back to read much more, Please do keep up the great work.


Feel free to visit my web blog :: レイバンメガネ

Anonymous said...

Having read this I believed it was really informative.
I appreciate you taking the time and energy to put this information together.
I once again find myself personally spending a lot of time
both reading and leaving comments. But so what, it was still worthwhile!


Here is my blog - chloe バッグ

Anonymous said...

I am genuinely grateful to the owner of this web
site who has shared this fantastic paragraph at here.


Feel free to visit my web-site miu miu 財布

Anonymous said...

Hi there, I read your new stuff daily. Your humoristic style is witty,
keep doing what you're doing!

Feel free to visit my website: プラダバッグ

Anonymous said...

I’m not that much of a internet reader to be
honest but your sites really nice, keep it up!
I'll go ahead and bookmark your site to come back later on. Many thanks

Look at my web blog :: クリスチャンルブタン

Anonymous said...

Television Comparison: Panasonic Viera Th-50pz800u And even
Th-50pz850u

Here is my blog; Panasonic PT-AE7000 review

Anonymous said...

Strategies of Puchases With Toslink In addition to Hdmi Connections

Feel free to surf to my web site :: optoma hd33 projector

Anonymous said...

Everything You have to know About Typically the Hp Docking Rail station

Also visit my website; Panasonic PT-AR100U price

ramakrishna said...

Hi taib,
Onn Mahmud's Wealth post was nice.
Thanks for sharing this excellent information. I really like this post.
website designing services in uk

Anonymous said...

It's really a nice and useful piece of information. I am satisfied that you shared this helpful info with us. Please stay us up to date like this. Thanks for sharing.

London construct Ltd is a building and construction company in London, covering all London areas based in South East London.Our friendly and personable approach ensures that every step of your project is completed thoroughly and with care, please contact us for Home Improvement Companies.